Distance Measurement Sensor Market is projected to reach a market size of US$ 4.23 billion by 2032

The market for distance measuring sensors is projected to generate US$2.86 billion in sales in 2022. By 2032, the market is anticipated to grow at a CAGR of 4% and reach US$ 4.23 billion in value.

The primary growth drivers of the global distance measurement sensor market include the need for sophisticated security systems in cars, the expansion of the use of these sensors in automation and robotics, the requirement for target detection in military applications such as drones and aircraft, and the sharp increase in demand for these sensors in the construction sector.

The distance measurement sensor market refers to the market for sensors that enable accurate measurement of distance or proximity. These sensors use a range of technologies, including ultrasonic, laser, and infrared, to measure distance and provide information for a variety of applications.

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Distance Measurement Sensor: Key Players

The key players of global distance measurement sensor market are Honeywell International Inc., Eaton, Balluf Inc., Baumer & others.

The distance measurement sensor market is segmented based on technology, application, and geography. The technology segment includes ultrasonic, laser, and infrared, among others. The application segment includes industrial, automotive, aerospace and defense, and consumer electronics, among others.

The industrial segment dominates the distance measurement sensor market, driven by the increasing demand for automation and robotics in industries such as manufacturing and logistics. The automotive and aerospace and defense segments are also significant markets, driven by the need for accurate and reliable distance measurement in these industries.

The Asia Pacific region dominates the distance measurement sensor market, driven by the presence of major electronics manufacturers in the region, such as Samsung and Sony, as well as the increasing adoption of automation and robotics in industries such as manufacturing and logistics. North America and Europe are also significant markets, driven by the presence of major players and the growing demand for distance measurement sensors in automotive and aerospace applications.

Distance Measurement Sensor Market Segmentation

of distance measurement sensor market is done on the basis of technology, operation type, applications& geography.

On the basis of operational type distance measurement sensor is segmented as:

  • time of flight
  • LASER triangulation
  • confocal chromatic imaging
  • photoelectric sensor
  • retro-reflective
  • diffuse reflection sensing
  • beam sensing

Based on the technology, segmentation of distance measurement sensor is done as:

  • infra-red led
  • capacitive sensor
  • inductive sensor
  • ultrasonic
  • laser diode
  • photo electric
  • draw wire
  • image sensor
  • others

By application type distance measurement sensor is segmented into following segments such as:

  • manufacturing
  • robotics
  • defense aerospace & intelligence
  • automatic identification
  • packaging
  • consumer electronics
  • automobiles
  • others.

Geographically, distance measurement sensor is segmented into seven regions which are:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East and Africa (MEA)

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BYOD Security Market revenue estimated to total ~US$ 35.6 Billion in 2023

The BYOD security industry is anticipated to generate 35.6 billion US dollars in sales by 2023. By 2033, the market for BYOD security is expected to reach US$ 235.8 billion, expanding at a CAGR of 18.9% from 2023 to 2033.

BYOD, which stands for “Bring Your Own Device,” essentially permits employees to bring their own laptops or tablet computers to work to be used as work computers. BYOD Security involves maintaining the cybersecurity of these devices. BYOD allows businesses to empower their staff by allowing them to use the devices with which they are most familiar and comfortable.

Nearly 5% of the global cybersecurity market is accounted for by BYOD security.The BYOD (Bring Your Own Device) security market refers to the market for solutions and services that ensure the security of corporate data and applications accessed through personal mobile devices such as smartphones, laptops, and tablets.

With the increasing trend of employees using their own devices for work, the need for BYOD security solutions has become critical for organizations to ensure data protection and compliance with regulatory requirements.

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Competitive Landscape

Several Companies in both developed and developing countries are emerging in the BYOD security market, this is leading the market into a position of competitiveness as no firms have been established as a top player yet.

  • In November 2022, IBM, Quokka, Palo Alto Networks, Qualcomm, Zimperium have decided to collaborate with NIST to develop Mobile Security Framework, which is a framework developed for BYOD Security administration.
  • In January 2023, Intel introduces a secure computing platform for virtual machines. Intel’s VM isolation solution is intended to safeguard data kept within VMs within a trusted runtime environment that is separate from the underlying hardware.

The BYOD security market is segmented based on solutions, services, deployment models, and geography. The solutions segment includes mobile data security, mobile device security, mobile application security, and mobile identity management. The services segment includes professional services and managed services. The deployment models segment includes cloud-based and on-premises.

The mobile data security solution dominates the BYOD security market, driven by the need for data protection and compliance with regulatory requirements. The mobile device security and mobile application security solutions are also significant markets, driven by the need to secure personal mobile devices and the applications accessed through them.

The professional services segment dominates the BYOD security services market, driven by the need for expertise and consultation in implementing and managing BYOD security solutions. The managed services segment is also significant, driven by the need for ongoing monitoring and management of BYOD security solutions.

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BYOD Security by Category

By Device Type:

  • Laptop
  • Tablet & Smartphone

By Solution Type:

  • Mobile Data Security
  • Mobile Device Security
  • Network Security

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

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Smart Thermostat Market is projected to reach a valuation of US$ 35.70 billion in 2033

The market for smart thermostats is expanding quickly and is anticipated to do so in the years to come. According to FMI, the market for smart thermostats might grow from US$4.18 billion in 2023 to US$35.70 billion in 2033. The market is anticipated to grow tremendously between 2023 and 2033, with an astounding CAGR of 23.9%.

In both residential and commercial buildings, a smart thermostat is a device that manages the heating and cooling systems. Using a schedule and a smart thermostat, users can set different temperatures for day and night and adjust the room’s temperature throughout the day.

Users of internet-linked devices, such as smartphones and tablets, can manage the heating setting using smart thermostats that are connected to the internet.

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The smart thermostat market refers to the market for thermostats that can be controlled remotely through mobile devices or other smart home devices. Smart thermostats offer a range of features, including remote temperature control, automated temperature adjustments based on occupancy or weather conditions, and energy consumption tracking.The smart thermostat market is segmented based on component, connectivity technology, application, and geography.

Battle of the Titans: Top Companies Vying for Dominance in the Smart Thermostat Market

The global smart thermostat market is a highly competitive space, with a range of manufacturers and key players vying for market share. The key players in the global market are

  • Nest Labs, Inc.,
  • Emerson Electric Co.,
  • ecobee inc.,
  • tado° GmbH,
  • Schneider Electric,
  • Honeywell International Inc., and
  • Carrier Corporation.

Over the past few years, manufacturers have implemented various strategies to strengthen their position in the market.

The residential segment dominates the smart thermostat market, driven by the increasing adoption of smart home technologies and the growing awareness of energy efficiency among consumers. The commercial and industrial segments are also significant markets, driven by the need for energy-efficient solutions in commercial buildings and factories.

The North America region dominates the smart thermostat market, driven by the presence of major players in the region, such as Nest Labs and Ecobee, as well as the high adoption of smart home technologies in the region. Europe and Asia Pacific are also significant markets, driven by the growing demand for energy-efficient solutions and the increasing adoption of smart home technologies in these regions.

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Key Segments

By Offering:

  • Hardware
  • Software
  • Services

By Application:

  • Warfare Platform
  • Cyber Security
  • Logistics & Transportation
  • Surveillance & Situational Awareness
  • Command & Control
  • Battlefield Healthcare
  • Simulation & Training
  • Information Processing
  • Threat Detection
  • Others

By Technology:

  • Machine Learning
  • Natural Language Processing
  • Deep Learning
  • Computer Vision
  • Context-Aware Computing
  • Intelligent Virtual Agent (Iva) /Virtual Agents
  • Others

By Platform:

  • Land
  • Naval
  • Airborne
  • Space

By Installation:

  • New Procurement
  • Upgradation

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and Africa (MEA)

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3D Display Market is projected to reach a valuation of US$ 433.1 Billion in 2033

In 2022, the 3D display industry generated $94.3 billion in revenue. By 2033, the market for 3D displays is anticipated to have grown at a CAGR of 15.0%, reaching US$ 433.1 billion.

A more advanced technology called a 3D display was created to give viewers 3D graphics and a sense of depth. Additionally, 3D display technology is witnessing growth in gaming, photography, movies, education, simulations for the military, and engineering.

Furthermore, stereopsis for binocular vision allows a stereo display to successfully convey depth responsiveness to the viewer.

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Consumer electronics manufacturers (CEMs) are making improvements to their product displays to give superior 3D visualisation in an effort to enhance the user experience.

The 3D display market refers to the market for displays that provide a three-dimensional image or video. These displays use a range of technologies, including stereoscopic displays, holographic displays, and volumetric displays, to create a realistic 3D visual experience.

The 3D display market is segmented based on technology, type, application, and geography. The technology segment includes stereoscopic, volumetric, and holographic displays, among others. The type segment includes head-mounted displays, digital signage displays, and TV displays, among others. The application segment includes consumer electronics, healthcare, automotive, and aerospace and defense, among others.

The Asia Pacific region dominates the 3D display market, driven by the presence of major electronics manufacturers in the region, such as Samsung and LG, as well as the increasing adoption of 3D displays in gaming and entertainment applications. North America and Europe are also significant markets, driven by the presence of major players and the growing demand for 3D displays in healthcare and automotive applications.

The 3D display market is highly competitive, with major players such as Samsung Electronics, LG Display, Sony Corporation, and Panasonic Corporation. To remain competitive, companies are focusing on innovation and new product development, as well as mergers and acquisitions to expand their product portfolios and global presence.

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Competitive Landscape

The companies are focusing on the development of stereoscopic display technologies to offer the end users with greater quality and experience.

  • In October 2022, Sony Electronics launched innovative spatial reality display. The SR Display allows creators across a variation of industries, from automotive and industrial design, to create computer graphics (CG) and visual effects (VFX), designers can use this for creating 3D graphics.
  • In January 2022, Samsung Electronics disclosed its new-fangled Neo QLED, MICRO LED and Samsung OLED line-ups combined with lifestyle products and accessories. Samsung has revealed new lifestyle products and features to uplift the user experience to another level, allowing customers to customize the way they view and experience displays.

3D Display Market by Category

By Technology:

  • Digital Light Processing DLP
  • Plasma Display Panel (PDP)
  • Organic LED (OLED)
  • LED (For Backlighting LCD Display Panels)

By Type :

  • Volumetric Display
  • Stereoscopic
  • Head-Mounted Display (HMD)

By Application:

  • Smartphones
  • Monitors
  • Mobile Computing Devices
  • Projectors
  • Head-Mounted Display
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa (MEA)

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Surface Mount Technology Market is expected to reach US$ 15.5 Bn by 2032

The surface mount technology market is anticipated to develop at a CAGR of 11.8% from 2022 to 2032, reaching US$ 15.5 billion. When an electrical component is physically installed or affixed to the top surface of a printed circuit board (PCB), this process is referred to as surface mount technology.

It is distinct from the conventional soldering-through-hole method. In comparison to the thru-hole method, it employs slightly different soldering tools and techniques that enable higher electrical conductivity and dependability. More components can fit on a given area of printed circuit board thanks to surface mount technology, which also significantly reduces overall production costs.

Surface Mount Technology (SMT) is a manufacturing process for electronic circuit boards that involves mounting surface-mounted devices (SMDs) on the surface of a printed circuit board (PCB) rather than inserting them through holes. The SMT market refers to the equipment, materials, and services used in this process.

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Competitive Landscape

Global players in the Surface Mount Technology market include

  • FUJI MACHINE MFG.CO., LTD,
  • Juki Corporation, Corporation,
  • Nikon Metrology NV,
  • Tioga Limited,
  • Hitachi High Technologies,
  • Orbotech Ltd,
  • Allen Organ Company LLC and
  • Nordson Corporation.
  • In November 2022, Cicor strengthened its presence in Germany by acquiring the Phoenix Mecano Digital Tunisie and Phoenix Mecano Digital Elektronik.
  • In October 2022, Snaptron announced the development of its first surface-mount metal dome. The dome could be soldered on the PCBs without affecting performance. The domes could be easily mounted on the PCBs with the use of SMTs to automate the process. The SMD domes can act as an alternative to tact switches.

The SMT equipment segment dominates the market, with soldering equipment, pick-and-place machines, and inspection systems being the major categories. The materials segment includes soldering materials, adhesives, and fluxes, among others. The services segment includes installation, training, and maintenance services.

The Asia Pacific region dominates the SMT market, with China being the largest market due to its low labor costs, the presence of a large number of electronic manufacturing companies, and favorable government policies. North America and Europe are also significant markets, driven by the presence of major electronics manufacturers in the region.

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Regional Analysis

East Asia was the region estimated to hold the largest market share in 2021 of 24.5%, and North America is estimated to be the fastest-growing region for the surface mount technology market.

East Asia dominates the market for surface mount technology because of fast industrialization, a growing population, a thriving economy, the existence of leading SMT players, and the rising trend of miniaturization. The countries in this region produce and export a large amount of electrical goods. The majority of electronics firms use surface mount technology for the mass manufacturing of electrical gadgets.

Surface Mount Technology Market by Category

By Equipment:

  • Inspection Equipment
  • Placement Equipment
  • Soldering Equipment
  • Screen Printing Equipment
  • Cleaning Equipment
  • Rework and Repair Equipment

By Application:

  • Consumer Electronics
  • Telecommunications
  • Aerospace & Defense
  • Automotive
  • Medical
  • Industrial
  • Energy & Power Systems

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Telecommunications Services Market is expected to reach US$ 3,303.3 Bn by 2032

The market for telecommunications services generated US$ 1,725.1 billion. The market is anticipated to increase at a CAGR of 6.2% from 2022 to 2032, reaching US$ 3,303.3 Bn.

The services provided by telecommunications firms to end users enable them to use their communication devices or other equipment that may enable them to communicate messages and information to other devices, enabling human-to-human connection.

The market for telecommunication services is anticipated to expand during the forecast period due to a number of factors, including the increasing number of smartphone users worldwide, the availability of high-speed internet, the development of 5G internet networks, and the expansion of sectors such call centres and business process outsourcing.

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The telecommunications services market refers to the provision of voice, data, and video services to consumers and businesses through wired and wireless networks. This market includes a wide range of services, such as fixed-line and mobile voice services, broadband internet, television, and cloud-based communication services.

The global telecommunications services market is a highly competitive and rapidly evolving industry, with a wide range of players including network operators, equipment manufacturers, and service providers.

Competitive Landscape

Various companies which operate within this domain find their primary customers in the form of the common people. However, larger entities like industries and governments are also strong clients. Each region or country has its own set of key players making it difficult for other players to enter any market post the point of market saturation.

  • In September 2022, AT&T was awarded a deal of US$ 119 million to undertake an eleven-year project to develop the voice and data networks of US Customs and Border Protection and provide them with both wired and wireless high-speed internet connectivity.

One of the key drivers of growth in the telecommunications services market is the increasing demand for high-speed data services, driven by the growth of digital applications such as video streaming, social media, and cloud computing. This has led to significant investments in new infrastructure and technology by network operators to provide faster and more reliable connectivity to their customers.

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The market is also being shaped by technological advancements, such as the development of 5G networks, the Internet of Things (IoT), and artificial intelligence (AI), which are expected to drive new use cases and revenue streams for telecommunications companies.

In terms of geography, the Asia Pacific region is expected to be the fastest-growing market for telecommunications services, driven by increasing demand from emerging economies such as China and India.

Telecommunications Services by Category

By Type:

  • Fixed-Network Services
    • Voice Services
    • Data and Fax Transmission
  • Mobile telecom services
    • Mobile Telephone Calls
    • Mobile Data Usage
    • Short Message Service [SMS]

By End User:

  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare
  • Retail
  • IT
  • Ecommerce
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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Potassium Formate Market Size & Forecast to 2029 | Top Players BASF SE, Evonik Industries, Honeywell International Inc, Cabot Corporation

Potassium formate is a non-toxic, non-flammable, and environmentally friendly compound that is widely used in the oil and gas industry, as well as in the food, agriculture, and pharmaceutical industries. In the oil and gas industry, potassium formate is used as a drilling fluid, which helps to stabilize the borehole and prevent the loss of circulation. It is also used as a completion fluid, where it helps to control the pressure in the wellbore and prevent damage to the reservoir. Potassium formate has excellent thermal stability and is therefore an ideal choice for use in high-temperature wells.

Future Market Insights’ new market research report opines that global potassium formate market is likely to witness significant growth during 2022 to 2029 on back of growing applications in drilling fluids, de-icing, and heating fluids. Valued at nearly US$ 716.4 Mn in 2022, global revenues are likely to grow at a CAGR of 4.2%, during the forecast period 2022 to 2029. Demand has also been positively influenced by growing preference for environmentally-sustainable products, especially in drilling fluids, de-icing, and heating fluids. The report opines that a combination of macroeconomic and industry-specific factors will drive potassium format demand during the course of the forecast period.

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South Asia and East Asia Continue to be Lucrative

According to the study, new oil and gas drilling projects in Asia are fuelling demand for drilling fluids, which in turn, is creating sustained opportunities for stakeholders across the potassium formate value chain. Potassium formate is gaining traction in oil & gas sector, owing to its favorable properties and environmental feasibility. South Asia and East Asia collectively accounted for over 26% of the global potassium formate market current, and the authors of the report do not see the status quo changing anytime soon. The broader push by governments in the region, and over-reliance on oil economy is likely to create sustained opportunities for potassium formate market players throughout the forecast period.

Drilling Fluid Likely to Remain a Key Application

The potassium formate market has been segmented on the basis of form, application, and region.

  • Brine (liquid) form of potassium formate accounted for major share of overall potassium formate demand, in 2021. Easy handling and storage of brines and its ease of use due to its liquid form, can be attributed to its large share in the overall potassium formate market
  • Drilling fluid application is projected to lead the application segment of the potassium formate market. Potassium formate is used in drilling fluids and is being more popular due to its compatibility and favorable properties. Traditional salts are being replaced by potassium formate in various applications including drilling fluid application.
  • North America and Europe led the demand for potassium formate market in 2021. Presence of large oil & gas industry and also more snow falling countries in these regions, is attributed for its larger share. However, the growth is expected from Asian countries during the forecast period.

Potassium Formate Market: Vendor Insights

The report highlights the key market players that are prominent and have established their position in the global potassium formate market. The examples of the key players in this value chain of potassium formate are BASF, ADDCON, Perstorp, Cabot, Evonik, Honeywell and ICL among others. The market players are providing premium customer services, technical support and an extensive range of potassium formate products in order to serve small to large customers across different industries and further expand their market presence by adapting new strategies including new product development and joint venture. The players are strategically focusing on building new partnerships and a strong client base. Some of the leading players are pushing the potassium formate sale in de-icing application due to its environmental feasibility and favorable properties.

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Potassium Formate Market Taxonomy

The global potassium formate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Form

  • Brine (Liquid)
  • Powder (Solid)

By application

  • Drilling Fluid
  • De-icing
  • Heat Transfer Fluid
  • Others(fertilizer, feed)

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Oilfield Chemicals Market will Record a Sluggish 4.2% CAGR through 2029

By the end of 2022, the market for oilfield chemicals is anticipated to reach US$ 27,383 Million. The market demand for oilfield chemicals is being driven by growing applications across numerous oilfield operations, including production, drilling, well stimulation, enhanced oil recovery, cementing, and hydraulic fracturing.

Oilfield chemicals are specialized chemicals used in the exploration, production, and processing of oil and gas. These chemicals play an essential role in the oil and gas industry, as they improve the efficiency and safety of drilling and production operations.

In addition to drilling fluids, oilfield chemicals are also used in the production and processing of oil and gas. These chemicals can be used to reduce corrosion, prevent scaling, and control the emulsions and foaming of oil and gas.

Oilfield chemicals are typically divided into several categories, including drilling fluids, production chemicals, stimulation chemicals, and enhanced oil recovery chemicals. Each category includes a range of chemicals that are designed to meet specific requirements and challenges of the oil and gas industry.

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Crude Oil Production and Processing Consumes Voluminous Oilfield Chemicals

The increasing number of exploration projects in the countries of Europe and MEA, such as Russia, Kazakhstan, Saudi Arabia, and several others, is estimated to support the demand for oilfield chemicals. These countries have oil reserves, which, in turn, support the demand for oilfield chemicals. Furthermore, APAC is a major market owing to the establishment of new refineries to cater to the growing demand for new units in the country. In addition, the increasing demand for refinery and petrochemical products across various end-use industries is an indication for the future demand for efficient crude oil.

To fulfil the demand for crude oil products, vendors have increased their refinery capacities. Attributing to this, manufacturers of crude oil are focusing on expansions as well as on increasing investments on clean fuel. Moreover, a significant volume of oilfield chemicals is utilised in the production and processing of crude oil.

Oilfield chemical act as the backbone of the refinery sector and oil & gas exploration sector across the globe. To meet this cumulative demand, key players of the oilfield chemicals market are expanding their manufacturing and production facilities to emerging regions, such as India & China, with an aim to reduce the operational cost owing to the abundance of economical raw materials and the availability of low-cost labour and in these regions.

‘Inhibitors’ to Remain Preferred Type of Oilfield Chemicals

  • Segmentation on the basis of product type of oilfield chemicals: The inhibitors segment is projected to lead the global oilfield chemicals market in terms of value, followed by the gas well foamers segment. In terms of growth rate, the H2S scavengers equipment segment is expected to lead the market with an approximate CAGR of 5% over the forecast period
  • Segmentation on the basis of application of oilfield chemicals: The drilling & completion oilfield chemicals segment is projected to lead the oilfield chemicals market by application, and accounts for high demand across the world
  • Segmentation on the basis of terrain type: The onshore segment is estimated to capture a higher market share over the forecast period

Profitability of Asian Markets for Oilfield Chemicals Continues to Rise

North America is a mature and prominent region with significant demand for oilfield chemicals. Asia Pacific is estimated to emerge as a profitable and high-growth region in the oilfield chemicals market. The demand for oilfield chemicals in these regions is also mainly driven by the rising oil & gas exploration activities in the region. MEA, Eastern Europe, and Latin America are also projected to be above-average growth regions in terms of volume and value, owing to the presence of already established markets in these regions. The market in the Middle East & Africa (MEA) is expected to experience moderate growth over the forecast period as it is an already established market.

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Oilfield Chemical Market Taxonomy

The global oilfield chemicals market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product Type

  • Inhibitors
  • Lubricants
  • De-Emulsifiers
  • Viscosfiers
  • Gas Well Foamers
  • Biocides
  • H2S Scavengers
  • Others

By Application

  • Drilling & Completion
  • Cementing Chemicals
  • Stimulation Chemicals
  • Oil Production Chemicals
  • Enhanced Oil recovery Chemicals

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • South Pacefic
  • Middle East & Africa

Global Oilfield Chemicals Market: Vendors Landscape

The oilfield chemicals market is moderately fragmented owing to the presence of a large number of local and established players. The report provides details of some of the key players in the global oilfield chemicals market, such as Albemarle Corporation, Akzo Nobel N.V., DowDuPont Inc., Baker Hughes, a GE Company LLC, Halliburton Co., BASF SE, Flotek Industries, Inc., Ashland Inc., Schlumberger Limited, Solvay SA, Clariant AG, GEO Drilling Fluids, Inc. Innospec Incorporated, and Chevron Phillips Chemical Company LLC.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Gum Rosin Market to Record a CAGR of 4.7%, Valuation to Reach US$ 2,460.2 Million by the end of 2033

The global gum rosin market is expected to witness an average CAGR of 4.7% from 2023 to 2033. The target market in this region will reach a valuation of US$ 2,460.2 million by 2033, rising from an estimated US$ 1,554.2 million in 2023.

Historically, the gum rosin market recorded a sluggish CAGR of 3.6% and reached a value of US$ 1,483.7 million in 2022. Increasing usage of gum rosin in paints, coatings, adhesives, paper, and inks will augur well for the gum rosin market as these products are undergoing a spike in demand.

Gum rosin is a kind of solid resin made from pine chemicals that are sourced from pine trees and various other plants. Also known as colophony, gum rosin is made by heating the fresh liquid resin to vaporize the volatile liquid terpene compounds. It is composed of a mixture of pimaric-type and abietic-type acids with a low amount of neutral compounds. Gum rosin Color’s ranging from yellow to black and has a semi-transparent appearance.

The market for gum rosin is positively influenced by the increasing application of the product in adhesives. An upsurge in preference for natural additives across various industry verticals. Gum rosin also finds application in the automotive and construction sectors as it is used in the paints and coatings used in these industries.

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Other applications of gum rosin include its usage as a glazing agent in chewing gum and medicines, as a dispersant and as emulsification in the synthetic rubber industry will spur the demand for gum rosin in the global market. Again, the high friction-enhancing properties of gum rosin will further swell up the demand for gum rosin in the upcoming years.

Gum rosin contains excellent physical and chemical properties which promote its usage in the manufacturing of adhesives, printing inks, paper sizing agents, solders and fluxes, surface coatings, insulating materials, synthetic rubber, chewing gums, and soaps and detergents. Gum rosin can also be used on bows of violins and other string instruments, dancing shoes, floors, and stages to prevent slipping. All of these considerations, along with others, propel the gum rosin market forward in the international space.

Key Takeaways:

  • Availability of substitutes may hamper the growth prospects for the gum rosin market.
  • Expansion of the adhesives and paints sector will open avenues of growth for the target market.
  • The gum rosin market in China will register a CAGR of 5.3% and create an absolute dollar opportunity of US$ 648.0 million by 2033.
  • Surging residential and commercial infrastructure projects will bolster the gum rosin market in India to grow at a CAGR of 5.7% during the assessment period.
  • By product type, the WW-type segment will account for 38% of the market share in 2023 due to its extensive usage in paper sizing for maintaining textures and colors.
  • In terms of application, the adhesive segment will continue to dominate the market.

Competitive Landscape 

  1. Naval Overseas, Punjab Rosin and Chemicals Works, and Forestar Chemical Co., Ltd., among others, are a few of the key players in the gum rosin market profiled in the full version of the report.

In a highly fragmented environment, prominent market players are concentrating on the acquisition of smaller firms. The development of novel and sustainable products, and increasing research efforts to adopt new technologies for eco-friendlier manufacturing of gum rosin are some of the other strategies adopted by these businesses.

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Gum Rosin Segmentation

By Product Type:

  • WW-Type
  • WG-Type
  • N-Type
  • X-Type
  • Others

By Application:

  • Paper
  • Paints & Coatings
  • Soap
  • Printing Ink
  • Adhesives
  • Rubber
  • Others

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia and the Pacific
  • Europe
  • Middle East and Africa

More Insights into Gum Rosin Market 

FMI offers the latest, unbiased, and detailed analysis of the global gum rosin market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type, application, and region.

According to the reports, based on segmentation, the WW-type of gum rosin will remain popular in the global market due to its rising usage in paper sizing. Based on application, the adhesive category will continue to dominate the market with a share of 28%. Rising demand for adhesives from the automotive sector will push the segment to expand at a CAGR of 5.9% between 2023 and 2033.

Based on region, the gum rosin market in India will exhibit impressive growth during this period. The target market in this country will grow at a CAGR of 5.7%. Factors like the elevated application of gum rosin in adhesives and its consequent usage in residential and commercial infrastructure projects will foster the growth of the market in India. Besides India, China too will present notable growth in the gum rosin market. Thus, India and China will significantly contribute to the growth of the gum rosin market during the projection period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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Key Drivers of the Industrial Pipe Insulation Materials Market: A Comprehensive Analysis

As predicted by Future Market Insights through a recently published research report, the global revenue of industrial pipe insulation material market is likely to reach a valuation of over US$ 1,800 Mn by the end of 2028. The market expansion over 2022-2028 has been estimated at a CAGR of 4.1%.

Growing focus on reduced energy conservation and greenhouse gas emission, coupled with multiple government initiatives promoting energy efficiency and sustainable development through advanced insulation technologies, is expected to favor the growth of global industrial pipe insulation material market. Use of recycled insulation materials is trending the market at present, owing to rising environmental concerns. A majority of manufacturers are focusing on using sustainable materials such as polyurethane foam and fiberglass.

With growing awareness about the advantages offered by mechanical insulation in recent years, resulting in increasing adoption by industries worldwide. Industrial pipe insulation constitutes a crucial part of the mechanical insulation industry, which is also witnessing steady growth since recent past.

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Industrial pipe insulation market includes pipe insulation adopted by process industries, refineries, thermal power plants, refrigeration and HVAC applications, and food processing units. Growth of industrial activity strongly impacts the demand for pipe insulation materials worldwide, as insulation systems play a critical role in safeguarding system’s performance in various end-use spheres. Furthermore, increasing energy cost also proves to be an important factor impacting the growth of industrial pipe insulation material market.

Energy conservation equates to reduced energy costs, which in some cases amounts to several hundred dollars (in savings) per annum. As a result, insulation is expected to become even more significant, resulting in higher adoption by a number of industries, including oil & gas, energy generation, chemical, and food & beverages, among others.

Stringent Regulations to Boost North American and European Markets

North America is expected to attain a value in excess of US$ 400 Mn by the end of 2028, prominently due to increasing implementation of stern regulations across industries. Moreover, bolstering demand from European region is anticipated to be driven by growing need for insulation systems specifically designed for the cold weather of the region. Whereas, China’s rampant industrial growth will continue to enable the region to significantly contribute to the global market growth.

Upsurge in Material Innovation & Increase in Old Pipe Replacement to Create Lucrative Opportunities

Surge in replacement of aged pipes, in addition to growing innovation in materials used in insulation of industrial pipes, will reportedly create attractive opportunities for manufacturers in near future. Lack of proper insulation leads to significant energy loss, eventually resulting in additional costs to businesses. The amount of energy lost through improperly insulated pipes can be 10x the energy that can be potentially delivered through them. Moreover, unchecked damages in aged pipelines lead to leakages, resulting in loss of materials.

Also, decoration of pipe insulation along with pipes contributes to an increase in energy loss, further contributing to environmental pollution. Manufacturers are focusing on the development of anti-corrosive and anti-abrasion materials, sustainable and eco-friendly materials, and energy saving and cost effective materials.

Moreover, companies are expected to introduce various insulation materials, which can offer thermal resistance, prevent pinhole leaks, reduce carbon footprint, provide UV resistance, and protect against fungal infections.

Manufacturers are foreseen to target high-potential markets such as Asia Pacific, and strengthen their foothold in regions such as Europe and North America.

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Industrial Pipe Insulation Materials Market by Category

By Material Type:

  • Fiberglass
  • Mineral Wool
  • Cellular Glass
  • Polyurethane
  • Polystyrene
  • Others

By Application:

  • Prefabricated
  • Rolla & Batts
  • Spray

By End Use:

  • Chemicals
  • Food & Beverages
  • Oil & Gas
  • Power
  • Metal Manufacturing
  • Other Industrial

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South East Asia & Pacific
  • China
  • Japan
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com